Natural gas prices

Natural gas heating systems are the leading cause of carbon monoxide deaths in the United States, according to the US Consumer Product Safety Commission. When a natural gas heating system malfunctions, it produces odorless carbon monoxide. With no fumes or smoke to give warning, poisoning victims are easily asphyxiated by the carbon monoxide. Detectors are available that warn of carbon monoxide and/or explosive gas (methane, propane, etc.)Quantities of natural gas are measured in normal cubic meters (corresponding to 0°C at 101.325 kPa) or in standard cubic feet (corresponding to 60 °F (16 °C) and 14.73 PSIA). The gross heat of combustion of one normal cubic meter of commercial quality natural gas is around 39 megajoules (≈10.8 kWh), but this can vary by several percent.

The price of natural gas varies greatly depending on location and type of consumer. In 2007, a price of $7 per1,000 cubic feet (28 m3) was typical in the United States. The typical caloric value of natural gas is roughly 1,000 BTU per cubic foot, depending on gas composition. This corresponds to around $7 per million BTU, or around $7 per gigajoule. In April 2008, the wholesale price was $10 per 1,000 cubic feet (28 m3) ($10/MMBTU). The residential price varies from 50% to 300% more than the wholesale price. At the end of 2007, this was $12-$16 per 1,000 cu ft (28 m3). Natural gas in the United States is traded as a futures contract on the New York Mercantile Exchange. Each contract is for 10,000 MMBTU (gigajoules), or 10 billion BTU. Thus, if the price of gas is $10 per million BTUs on the NYMEX, the contract is worth $100,000.